Wigan

[daytona]

Announced losses of over 1.4 million last year in a grand final winning year. They also sold Bateman for 175k and sold a shop for 120k so without that it would have been even worse. Haemorrhaging money on such a grand scale is not sustainable no matter how rich your owner is. With Wigan’s crowds even lower this year it could be even worse for them. Interestingly it cost them 275k to rent their so called home ground and directors filtered out 110k for themselves. Can only imagine how our fans would react if we announced financial results like that.

[Bolton-tiger]

And yet they are still signing quality players and and splashi the cash (that they dont have)

[lurcher]

can't remember the last year they actually made a profit. its why lenagan is always chasing a bigger slice of the sky pie.

[nottinghamtiger]

Wigan are in serious trouble, aren’t they?
They are going to suffer a bigger loss this year given their attendances too. They’ve also signed Jackson Hastings and Tom Burgess as marquee players, plus Bevan French and some others, so you’d assume that’s a massive rise in salary costs (I know they have lost a couple, but nowhere near that level of salary).
It’s strange, but I thought that when the marquee player rule was introduced, clubs had to be financially viable to be able to take advantage of it. At the moment, Wigan are is a massive hole of ever-increasing debt.
I don’t care how “big” they think they are, but they are surely in danger of administration? Everyone said Bradford were too big to decline like they did. All the signs suggest that Wigan are blindly following the same path.

[HuddsTigers]

Not when Lenagan is footing the bill for it.

[Fumper27]

Announced losses of over 1.4 million last year in a grand final winning year. They also sold Bateman for 175k and sold a shop for 120k so without that it would have been even worse. Haemorrhaging money on such a grand scale is not sustainable no matter how rich your owner is. With Wigan’s crowds even lower this year it could be even worse for them. Interestingly it cost them 275k to rent their so called home ground and directors filtered out 110k for themselves. Can only imagine how our fans would react if we announced financial results like that.

I would hazard a guess that Huddersfield won’t be much different either.

[nottinghamtiger]

Not when Lenagan is footing the bill for it.

He’s not. He’s now loaning money to the club and presently the debt stands at £5.3m. If he decides he wants out, they are gone as a club as they simply cannot repay that, having no assets bar players.
They are also in debt to Barclays Bank to the tune of £800k. How are they going to repay that when they are losing as much as £1.4m a year (and it will be more next year too)?

[lurcher]

they can't really blame the ground rent either. thats around £300,000 so even if they had been rent free they would still have lost £1.1 million.

[daytona]

If it was anyone else but Wigan the RFL would be asking serious questions how they are going to fund these expensive signings for next season with such a huge deficit. No matter how much Lenagan loves his club at some point either himself or his family will say enough is enough. I know if I had a millionaire dad who was throwing my inheritance away with gay abandon, I’d not be too pleased!

[casjunction]

How many club's actually operate on a sound financial basis.
Rugby League has squandered the poorly negotiated Sky money.
Their abject marketing skills have failed to raise the profile of the sport and taken attendances for granted.
Sooner or later something will have to give.

[lurcher]

If it was anyone else but Wigan the RFL would be asking serious questions how they are going to fund these expensive signings for next season with such a huge deficit. No matter how much Lenagan loves his club at some point either himself or his family will say enough is enough. I know if I had a millionaire dad who was throwing my inheritance away with gay abandon, I’d not be too pleased!

correct mate, bradford are in special measures for less and widnes were until recently.
its all ok till lenners falls out and decides enough is enough and walks away.
pies fans thought the sun shone out of his harris while they thought he was putting his own money in. they've changed their minds now they realise he was only putting money in as loans and will eventually want it back.

[Tamworth Tiger]

If it was anyone else but Wigan the RFL would be asking serious questions how they are going to fund these expensive signings for next season with such a huge deficit. No matter how much Lenagan loves his club at some point either himself or his family will say enough is enough. I know if I had a millionaire dad who was throwing my inheritance away with gay abandon, I’d not be too pleased!

Are we really in any better position with the Fultons?

[casjunction]

We have not posted a loss and are not paying rent.
With regards to the Fultons we are as far as I am aware not getting any deeper into debt and are l think paying the interest on what is owed.
As l posted earlier Rugby League is not in a healthy financial position.

[mart0042]

If it was anyone else but Wigan the RFL would be asking serious questions how they are going to fund these expensive signings for next season with such a huge deficit. No matter how much Lenagan loves his club at some point either himself or his family will say enough is enough. I know if I had a millionaire dad who was throwing my inheritance away with gay abandon, I’d not be too pleased!

Are we really in any better position with the Fultons?

Yes because we are well run and are one of the few who make money. We also own the ground and could sell it to pay them out.

[Tamworth Tiger]

And play where?

[mart0042]

And play where?

Rent it from the new owner, or put the money towards a new ground? Is worth more than the debt, especially if wakey is worth a couple of million.

Where would Leeds play if caddick sold up, or mcmanus at saints? The question could be asked about any sporting club. Where would the new York Yankees play?

We make money and thus are a good prospect for a budding owner, rather than losing money with no assets.

[Tamworth Tiger]

Yes it’s good that we have moved on from when we were 20 minutes from going bust and saved it by selling our best asset to Wire
I thought the whole point was questioning where Wigan would be if Lenaghan called his debts in

[lurcher]

And play where?

Rent it from the new owner, or put the money towards a new ground? Is worth more than the debt, especially if wakey is worth a couple of million.

Where would Leeds play if caddick sold up, or mcmanus at saints? The question could be asked about any sporting club. Where would the new York Yankees play?

We make money and thus are a good prospect for a budding owner, rather than losing money with no assets.

whilst mcmanus is the owner 80% of the shares are owned by another director through one of his companies. his name is mike coleman and he has put £20 million into the club since they moved to their new stadium. i don't know if he'll ever want that back.

[noxandrattles]

And play where?

Rent it from the new owner, or put the money towards a new ground? Is worth more than the debt, especially if wakey is worth a couple of million.

Where would Leeds play if caddick sold up, or mcmanus at saints? The question could be asked about any sporting club. Where would the new York Yankees play?

We make money and thus are a good prospect for a budding owner, rather than losing money with no assets.

whilst mcmanus is the owner 80% of the shares are owned by another director through one of his companies. his name is mike coleman and he has put £20 million into the club since they moved to their new stadium. i don't know if he'll ever want that back.

genuine question, how is mcmanus the owner if he only has 20% of the shares?

[lurcher]

And play where?

Rent it from the new owner, or put the money towards a new ground? Is worth more than the debt, especially if wakey is worth a couple of million.

Where would Leeds play if caddick sold up, or mcmanus at saints? The question could be asked about any sporting club. Where would the new York Yankees play?

We make money and thus are a good prospect for a budding owner, rather than losing money with no assets.

whilst mcmanus is the owner 80% of the shares are owned by another director through one of his companies. his name is mike coleman and he has put £20 million into the club since they moved to their new stadium. i don't know if he'll ever want that back.

genuine question, how is mcmanus the owner if he only has 20% of the shares?

exactly.